The U.S. Securities and Exchange Commission (SEC) has opened official proceedings regarding the proposed ETF applications that may affect the XRP market. This event occurred on June 17, 2025.
Details Behind the ETF Proposal
The Franklin XRP Trust plans to issue an ETF that will hold physical XRP, with Coinbase Custody Trust Company as the custodian. The ETF will track the CF Benchmark CME XRP-Dollar Index and will be used to calculate the net asset value. The application process started on March 13, 2025.
Regulatory Standards Under Evaluation
The SEC is conducting proceedings to determine whether the proposal complies with the Exchange Act requirements designed to prevent fraud and manipulation. The Commission is actively requesting written public comments from interested parties.
Comparison with International Practices
International practices show that other countries are already implementing their own ETFs, with Canada launching its first spot ETF. The U.S. needs to expedite the process to remain competitive in the global cryptocurrency market.
The developments surrounding the XRP ETF are a significant step for the cryptocurrency market, with the SEC's decision likely to impact not only individual assets but the entire crypto market.
